FactoHR is an HRMS and Payroll software from Version Systems with performance management. The software facilitates the businesses to handle entire human resource starting from employee acquisition to employee relieving including training and project management. With 13 years of HR domain experience, FactoHR has acquired more than 1000 clients and over 1 Million employees using the portal.
From small business like FindSpace to a large conglomerate like Murugappa Group, FactoHR has the experience of providing HR platform to every kind of business. Hence, the platform has developed in multiple directions in these years.
I recently got a chance to understand the platform and I can safely say, it is the most precisely designed HR platform in terms of features and policies. No matter how dense and complicated policies you have in HR & Payroll, FactoHR consists a provision!
- FactoHR has a vast experience of providing HR platform from small businesses to large enterprises, hence the software have every possible feature that you can think of!
- You can select the modules according your need as FactoHR provides you flexibilities with the packages.
- My personal favorite is – Reports. Every modules have multiple reports which makes the analysis very simple.
- You can set up your own policies according to your organizational needs, and the software will reflect the results according to that.
- Frequently used features are provided in a sidebar which makes everyday work style easy.
- Modules are inter-connected, so any change you will make in any of the module, it will be reflect in other modules automatically (like performance management points will be reflected in employee bonus, so PMS and Payroll are connected).
- Per Day Cost and Revenue report can be generated.
Complete FactoHR Review:
FactoHR is packed with 10 feature strong modules that satisfying every need of a company in terms of human resource management. Not just HR, but the software has also focused on employee efficiency with performance management, workflow management, and training management modules.
One of the finest things I have observed is – Each module is precisely designed. FactoHR has made sure that not a single feature missout!
Let’s have a look the 10 main modules of FactoHR:
- Human Capital Management
- Attendance & Leaves
- Payroll & Loan
- Travel, Claim & Reimbursement
- Employee Self Service
- Performance Management System
- Learning Management
- Time Sheet
Let’s have a look at these modules and find out what makes FactoHR stand out from the other software. Let’s go!
With recruitment management module you can directly link up your company’s Career Page. That means whatever changes you will make in the software (like posting various job openings), the same will be reflected on the Career Page.
Various job openings can be posted from the software with a time limit so candidates will know what is the last date to apply for a particular position. At the end of the cycle, HR manager download the report of candidates, and also feed the status of the candidate (telephonic interview, group discussion or personal interview).
The HR member can share feedbacks of a particular candidate at every stage of the hiring process, so it becomes easier for the employer to decide.
In onboarding module of FactoHR, HR manager can send various letters like company policy letter, appraisal, appointment, offer letter etc, from the predesigned formats. The HR can also manage documents on new joinees, and set up document renew dates.
In the onboarding process, asset management directly comes into the picture. With this module, HR manager can track the assets provided to the new joinees.
This module is directly connected to Human Resource Management Module, so decided CTC and employee details will be fetched automatically.
Various reports like Document Details, Asset Stock Register, and Employee wise Asset reports can be downloaded.
Customised letters, forms and memos can be generated from the module.
Human Capital Management:
HCM is one of the most important and well crafted modules of FactoHR. From this module, HR manager can feed employee basic details and HR information. The same module allows HR to decide salary structure and week off & overtime policies for the employee.
This module gives out following features in detail:
- Deciding customer overtime policies for each employee
- Stores employee PF & ESIC details
- Designing organizational chart
- Employee directory
- Entire resignation process
- Calculates F&F amount at the time of resignation
The entire module is customizable! So, according to company policies, HR can decide what options to include in each and every process.
MIS report can be downloaded.
The HCM module is linked with the Asset management module. So, at the time of employee relieve, software will remind you what assets are remaining to be collected from the employee!
Attendance and Leaves:
Attendance policies may differ in each organization. Attendance calculation has a lot to do with On Hand Salary of employees. Hence, FactoHR has covered all the possibilities in terms of Attendance Policies, so the employer can select the needed features, and attendance will be calculated on that basis:
Employer can also create multiple shifts and set up lunch time and tea breaks limits. Employees will submit the attendance through smart cards or biometric devices, and attendance will be recorded in real time.
In industries like hospital and healthcare, employee’s shift changes everyday. Like on monday employee has to come on morning shift, on tuesday afternoon shift, and so on. This pattern is known as Shift Roaster, and this can be easily set up in FactoHR.
Employees can punch their attendance through GPS from FactoHR mobile application.
What I really loved about this module is – No matter how complicated your attendance system is or no matter how many shifts you have, you can ease down with this module! FactoHR may have developed such a strong module from the experience of different genres of business. That’s why I found multiple provisions for attendance policy!
Payroll & Loan:
Payroll is simplified with 6 easy steps (Payroll Wizard) in FactoHR which makes the entire payroll process quick and easy. Apart from these easy steps, payroll is wisely designed by keeping all types of businesses in mind. Employer can define payroll and attendance cycle according to organization policies and personalise the entire financial year!
Apart from fast payroll processing, here are some features that FactoHR hasn’t missed:
- Employee payment/deduction claims month wise
- Stopping salary payment for a particular employee for a desired period
- Stopping tax deduction for a particular employee for a desired period
- Arrear calculation
- Overtime calculation based on employee’s attendance
- Leave encashment
- Upload loan details in bulk before the salary processing
- Generate attendance and statutory reports (ESIC, Form-5, PF – Challan, etc.)
The entire payroll process is simply divided in 6 steps which makes the salary payments extremely easy!
Here are the 6 steps to complete the payroll:
- Master (employee enroll, salary master, bank account details, PF details, employee identity)
- Monthly Input (Stop payment, attendance sheet, arrears, increment, Ad hoc, investment, loans, resigned employee details)
- Process (F&F Statement, salary processing)
- Verification (salary summary, payslip draft, IT statement draft, professional tax draft)
- Release (Finalising salary and releasing the payments)
- Statutory (PF challan statement, ESIC statement, income tax reports)
The HR has to upload the necessary files in these steps, and the payroll will be completed in few minutes. Remember, all the files can be directly downloaded from Payroll Wizard, so HR doesn’t have to leave the wizard, and the entire payroll can be process in one sit!
Travel, Claim & Reimbursement:
Just like the other modules of FactoHR, employer can decide reimbursement policies designation, department and location wise, and the system will respond in that manner.
Employees can claim reimbursement for travelling, food and other expenses, and the admin will have the authority to approve or reject it. Employer can set a customer formula as for the reimbursements as well.
The system will ask to upload needed documents when an employee asks for the reimbursement, but employer can change the policies according to his needs.
Small yet important things like reimbursement limits, attendance consideration on travelling days, advance amount claims, kilometer wise travel charges, Mileage Related Claim, etc. makes this module detailed and specific.
Of course you can directly download multiple reports like Advance analysis Report, Travel detail reports, expense claim report, payment batch detail, expense payment details, etc.
Employee Self Service:
Employee self service a.k.a. ESS is specially designed for each employee where he can apply for leaves, manage attendances, claim reimbursements, manage their finances and manage his/her timesheet.
Employees can manage their tax deductions and investment details very well. One of the finest things about this module is – employee can see his/her performance review report, hence it opens the gate for improvement in performance.
The system will show you the team members on leave for a particular day, so employees can make a decision whether to take leave or not based on department’s requirement.
This is one my favourite modules of FactoHR because it not only allows you to set up a personalised strategy for a company, but it is directly linked to the payroll module. That means employee’s performance score will be directly reflected in the employee salary slip.
Employer can set up various goals (a.k.a. Key Performance Indicators ) for the teams and the the final ratings will be based on the formula that employer has decided.
At the end of the decided cycle, employees are evaluated on each KPIs, and final reports are generated:
As I said, the PMS module is linked with payroll management, so the employer can set up a formula and the overall ratings of an employee will be reflect on his/her final bonus:
- Learning Management:
In this module, employee or group of employees can request for a training to the HR or admin by defining purpose and objectives. The HR can design the entire event and invite employees for the training. At the end of the session, HR can take feedbacks of employees who had attended the program so the entire event can be evaluated.
HR manager can find the complete report at the end of the training program with details like number employees present, number of employees absent, designation wise budget allocation, total cost of the training program, etc.
At the end of the session, HR can evaluate the success of the session. Based on the event, she can plan for the further events as well.
- Time Sheet:
This module is dedicated to handle various projects, hence it is a small version of a project management software. Here the manager can add project name, assigned employees, list of activities, workflow configuration etc.
After the project completion, HR can generate individual performance report of employees with important details like number of hours invested, per hour rate, revenue generated, gross profit/loss, expenses, etc.
The manager can download the utilization report at the end of the project defining productive hours and non productive hours of any employee:
FactoHR mobile application is currently available on both the platforms – Android and iOS. Employees can use the application for following purposes:
- Download payslips
- Avail leaves, and check leave balance
- Apply for reimbursement
- GPS based Attendance Punch
- Find company documents or learning materials under “Plug Me”
- Check PF balance
No matter in what genre of industry your business fall, FactoHR has included all the features that are required to run your Human Resource and Payroll. With multiple reports in every module and interactive graphics on dashboard, organizational analysis becomes pretty much easy. With 6 step easy payroll wizard, you can process your entire payroll in minutes, irrespective of your employee strength.
With FactoHR, any business can simplify your complex HR operations, and increase organizational productivity, and it is undoubtedly one of the finest HR platforms that I have reviewed.